Tag Archives: gm bankruptcy

GM Gives Stock to Its Deeply Underfunded Pension Plan

Posted on 14 January 2011 by Ken Zino

General Motors Company (NYSE: GM) today confirmed it has completed a contribution of 60.6 million shares of GM common stock to its U.S. hourly and salaried pension plans, valued at roughly $2 billion. Continue reading →

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Ex Car Czar Rattner Settles Bribery Charges for $10 Million

Posted on 31 December 2010 by Ken Zino

Steven Rattner, the Obama Administrations’ former “car czar,” has settled bribery charges in New York by paying a $10 million fine and agreeing to banishment from appearing before any public pension fund within the State of New York for five years. … Continue reading →

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GM Will Repay $1.0 Billion of Korean Debt

Posted on 1 December 2010 by Ken Zino

General Motors Company today announced that its GM Daewoo Auto & Technology, Inc. subsidiary will fully repay its Korean revolving credit line by December 8. GM owns 70% of the automaker, which it – ironically –  acquired when the parent … Continue reading →

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Chevy Camaro Convertible, Buick Regal Added at GM Oshawa

Posted on 29 November 2010 by Ken Zino

The Oshawa Assembly Plant in Canada today added 700 employees for a new second shift on a flexible assembly line as General Motors takes the final steps for upcoming 2011 launches of Chevrolet Camaro Convertible and Buick Regal models. Camaro … Continue reading →

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General Motors Underwriters Take Maximum Number of Shares in IPO

Posted on 26 November 2010 by Ken Zino

What this really means is U.S. taxpayers now own about 33% of General Motors, down from the U.S. Treasury’s ownership of GM’s outstanding shares of common stock of 61% before the IPO. Continue reading →

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Bailout Blessing! GM Saves 184 Jobs in Three Plants

Posted on 24 November 2010 by Ken Zino

General Motors has just announced a $163.2-million investment in its operations in Flint and Bay City, Michigan, and Defiance, Ohio, to support engine production for the Chevrolet Volt, Chevrolet Cruze and a new Chevrolet small car to be built in the United States. The investment will protect 184 jobs at the three sites. Continue reading →

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GM Stock Price Soars on IPO Frenzy

Posted on 18 November 2010 by Ken Zino

My how quickly public perceptions change. General Motors, the ailing symbol of demonstrably bad senior management and worse union labor practices, is now the darling of Wall Street as it returns to public trading today in New York and Toronto under the ticker symbol “GM.” Continue reading →

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Just How Bad is GM’s Accounting?

Posted on 14 November 2010 by Ken Zino

GM says that it doesn’t have the financial controls in place to know if its published results are real or if there are potential material changes lurking. Continue reading →

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